Burney Co. Grows Stake in Wells Fargo & Company (NYSE:WFC)

Burney Co. grew its position in Wells Fargo & Company (NYSE:WFC) by 102.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,907 shares of the financial services provider’s stock after buying an additional 37,324 shares during the quarter. Burney Co.’s holdings in Wells Fargo & Company were worth $5,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFC. WINTON GROUP Ltd purchased a new position in Wells Fargo & Company during the 2nd quarter valued at about $225,000. Renaissance Technologies LLC boosted its stake in shares of Wells Fargo & Company by 23.8% during the second quarter. Renaissance Technologies LLC now owns 1,233,911 shares of the financial services provider’s stock valued at $73,282,000 after purchasing an additional 237,400 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Wells Fargo & Company during the second quarter valued at approximately $272,000. Old West Investment Management LLC bought a new position in Wells Fargo & Company in the second quarter worth approximately $477,000. Finally, Plancorp LLC lifted its holdings in Wells Fargo & Company by 1.8% during the second quarter. Plancorp LLC now owns 13,514 shares of the financial services provider’s stock worth $803,000 after buying an additional 240 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on WFC shares. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays boosted their price objective on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Trading Up 4.5 %

Wells Fargo & Company stock opened at $74.39 on Wednesday. The stock has a 50-day moving average price of $72.41 and a 200 day moving average price of $63.15. The company has a market capitalization of $247.68 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.